Economy News

Economy

US Oil Rig Count Dips Slightly While Gas Rigs Surge: A Weekly Energy Market Update

The US oil rig count slightly decreased to 422, down by two from last week, with a significant annual drop. Meanwhile, gas rigs surged by nine to 117, contributing to a total of 54...

Economy

June Sees a Surprising 4.6% Surge in US Housing Starts Despite Annual Dip

June witnessed a 4.6% increase in US housing starts to 1,321,000, despite a yearly drop of 0.5%. Single-family starts and permits declined, while building permits slightly rose. Ho...

Economy

US Consumer Confidence Surges in July, Defying Expectations with a Notable Rise

The US Consumer Sentiment Index rose by 1.8% in July, exceeding expectations, despite a yearly decline. Economic conditions improved, but consumer expectations and inflation foreca...

Economy

IMF Warns of Global Economic Uncertainty and Front-Loading Ahead of Tariff Increases

IMF's Gita Gopinath warns of high global economic uncertainty and discusses new trade dynamics, including front-loading ahead of tariffs and trade diversion, while noting a cooling...

Economy

Chicago Fed's Austan Goolsbee Voices Concern Over Tariffs Fueling Goods Inflation

Chicago Fed President Austan Goolsbee warns of tariffs increasing goods inflation, noting potential interest rate cuts in the next year during a podcast discussion.

Economy

Malaysian Minister Advocates for Durian-Friendly Hotels to Boost Tourism and Economy

Malaysian Minister Datuk Seri Mohamad Sabu proposes hotels allow durians to boost tourism and economy, despite the fruit's polarizing odor. The initiative aims to celebrate Malaysi...

Economy

Germany's Producer Prices Take a Dive: A 1.3% Drop in June Sparks Economic Insights

Germany's producer prices fell by 1.3% in June year-on-year, with energy prices dropping 6.4%. However, consumer, durable, and capital goods prices increased, highlighting a comple...

Economy

Eurozone's Current Account Surplus Skyrockets to €32B in May, Signaling Economic Resilience

The eurozone's current account surplus rose significantly to €32 billion in May, driven by surpluses in goods, services, and primary income, despite a secondary income deficit. Ove...